The countries of the EU lost out on €147.1 billion in value-added tax (VAT) revenue in 2016, according to a new study published by the European Commission on Friday 21 September.
The overall VAT gap, or the difference between anticipated VAT revenue and the amount actually received, felt slightly compared to 2015, from 13.2% to 12.3%, or a drop of €10.5 billion (see EUROPE 11872).
The European Commissioner for Taxation, Pierre Moscovici, welcomed the improvement in the member states'...